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. The world in 2022: slower growth, higher inflation, interest rate hikes .-- C. Effects on the region: large differences …
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yielded a dual effect: lowering both output growth and inflation rates, while concurrently exacerbating unemployment rates …
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In the last decade, advanced economies, including the euro area, experienced deflationary pressures caused by the global financial crisis of 2007-2009 and the anti-crisis policies that followed - in particular, the new financial regulations (which led to a deep decline in the money multiplier)....
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